Grading coins

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Grading coins

#1 Unread post by Jaderose354 »

Hi coin perts

I have quite a few questions I'd like to ask to you all
1 how many coins would you get graded for the first time?
2 is there some type of insurance/protection offered?
3 as a first timer sending coins to be graded which level of membership should you sign up for?
4 if you come across a coin that doesn't have errors but think it may possibly be graded in the high mint range should you A send it in and chance that it will be in the high MS range or B ask some coin experts such as your selves for your opinions

I know its alot to ask you guys but research I've come across leaves me with more questions than answers hahhahaha and I really truly appreciate all the help you guys could give me

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Re: Grading coins

#2 Unread post by DanB »

Daniel has a bunch of videos regarding grading coins and if/when you should or shouldn’t.
If you decide to ship them out, I would recommend (as does the grading companies) via registered mail. It’s slow but depending on values (gold, silver, or rare etc) they can be insured appropriately. Any other method is not covered at least by USPS (read fine print).
As for which grading service and level, in PCGS case normally the free vouchers almost cover the cost of membership. But each company has strengths and weaknesses again I believe Daniel has video on that as well.
I’m not into errors and varieties so I can’t help much there, however I do know you have to pay extra to have it attributed.
Best advice is compare your coins to someplace like coinfacts and if you still are confused post a photo and although folks here (Daniel and Paul) won’t necessarily give it a grade based on photos the group can give some guidance.
A big thing you need to do is cost benefit analysis. You really don’t want to be paying more for grading services on a coin if the value once graded doesn’t exceed that cost.

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Re: Grading coins

#3 Unread post by JIStacker »

Hello Jade,

1. ANACS has specials from time to time, right now Silver Dollars, $10.00 a piece for ten coins, plus
shipping etc.

NGC has different tiers, but if you are just starting out. The premium membership $149.00 gets you
direct submission rights, and $150.00 credit to your account for grading, (I have never received a
"voucher" from NGC, it may be a PCGS thing) you can get a few coins graded, and get a feel for the
process. Obviously you would have to use the credit before you membership runs out, but you could
send 2 coins this month and in a couple of more months send a couple of more etc. This will allow you
to test your grading abilities

If you move up to NGC Elite at $299.00 you get the $150.00 credit, and you can do bulk submissions
on 100 coins or more. With bulk submissions you are allowed to set a minimum grade. So you can set
the minimum grade at 63, this means only coins 63 or better will be put in a holder. Any that do not
meet that criterion, are just sent back to you without being holdered. This process is designed to save
money for the submitter. It is basically a prescreening process.

As far as how many, no one can really make that decision for you, but if you go with NGC premium you
have the flexibility to enter slowly, without feeling the pressure to send ten Morgans at one time.

I have no experience with PCGS so you would have to look that up.

2. Insurance and protection, if you mean for shipping, yes always, but you need to understand there are
loopholes for the USPS to wiggle out of, so even though it is a painful process, and I have done it,
before you get the insurance please read ALL of the documentation. However if you mean are there
any forms of insurance and protection as far as Grading is concerned, no there is not.

3. See #1

4. As far as varieties or errors. It would be best to stick to the most well known, and not get too far
afield. For instance Daniel has recommended that with Morgans stay with the Top 100 varieties,
because they are the most valuable for resale. If you have one of these in mint condition, it could be
worth getting it "Attributed" and possibly graded. But remember you have to tell the company which
variety it is, and pay extra for the "Attribution". If you want them to find out which variety it is, you
will need to pay another fee.

Here is something else, never ever use a picture to confirm a grade, or compare your coin to. If you are looking at Morgans, and are serious about learning how to grade, it would be wise to buy an MS65 coin to use as your "Control", you do not need a Key date or anything rare, a common date coin would do. You can then get are very clear idea of what a particular coin would look like with X grade. I use 65 because it is a high grade for Morgans, but will not not be prohibitively expensive.

Everyone is different, I know collectors in my area who will send a coin out for grading knowing they will never get a return on the investment, I know others, who will never get a coin graded. If you are in business, return and cost basis are very important, as a collector, if you like the look of holdered coins, then it is your money, do what makes you happy.

Anyway, I wish you well and hope you continue to enjoy the Hobby.

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Re: Grading coins

#4 Unread post by Daniel »

I recommend joining a coin club or going to a coin show or visiting a dealer in person. You can show the coins you want to send in person. Call first because some dealers don't have time to help in depth like this.

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Re: Grading coins

#5 Unread post by Jaderose354 »

Awesome advice guys 😊 THANK YOU ALL but definitely have been watch Daniel's videos ill look into joining and coin club here love this forum definitely get all my questions answered ty ty

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